SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Aldebaran Investments, LLC (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 08/17/2008	3. Issuer Name and Ticker or Trading Symbol Stream Global Services, Inc. [ OOO ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	7,298,300	I	See Footnotes(1)(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
warrants	10/17/2008	10/17/2011	Common Stock	5,621,300	$6	I	See Footnotes(1)(2)

1. Name and Address of Reporting Person* Aldebaran Investments, LLC (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Klein Mark D (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Peck Bradford (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Scheer Adam L (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Radov Jeffrey (Last) (First) (Middle) 500 FIFTH AVENUE 5 TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The filing of this Form 3 shall not be construed as an admission that Aldebaran Investments LLC, Mark D. Klein, Bradford R. Peck, Adam Scheer and Jeffrey Radov (the "Reporting Persons") is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the shares of common stock, $.0001 par value per share (the "Common Stock"), of Stream Global Services, Inc. (the "Issuer") owned by a certain managed account for which Aldebaran Investments LLC is the Investment Manager (the "Managed Account"). Pursuant to Rule 16a-1, the Reporting Persons disclaim such beneficial ownership.

2. Aldebaran Investments LLC holds indirectly the Common Stock through the account of the Managed Account; Mark D. Klein, Bradford R. Peck, Adam Scheer and Jeffrey Radov, principals of Aldebaran Investments LLC, at the time of purchase, controlled the disposition and voting of the Common Stock. Aldebaran Investments LLC receives a performance-based fee from the account of the managed account for which it is the Investment Manager.

	Adam Scheer, Principal of Aldebaran Investments LLC	08/26/2008
	Mark D. Klein	08/26/2008
	Bradford R. Peck	08/26/2008
	Adam Scheer	08/26/2008
	Jeffrey Radov	08/26/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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